Indigo Company reports the following financial information before adjustments.
Dr. Cr.
Accounts Receivable $132,500
Allowance for Doubtful Accounts $3,970
Sales Revenue (all on credit) 838,100
Sales Returns and Allowances 50,780
Prepare the journal entry to record bad debt expense assuming Carla Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,570 debit balance.
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Home » Business » Indigo Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $132,500 Allowance for Doubtful Accounts $3,970 Sales Revenue (all on credit) 838,100 Sales Returns and Allowances 50,780 Prepare the journal